PRESS RELEASES

Pittsburgh Cosponsors US Conference of Mayors Resolution Calling on Cities to Divest from Fossil Fuel Industries

PITTSBURGH, PA (July 1, 2020) Pittsburgh and 16 other cities cosponsored a policy adopted by the U.S. Conference of Mayors yesterday that urges cities across the globe to explore divesting from fossil fuels and invest in climate solutions to support a green recovery and a just transition. 

Last summer, Mayor William Peduto asked Pittsburgh’s Comprehensive Municipal Pension Board to divest the City’s pension funds from fossil fuel industries and in February the board named a subcommittee to study divestiture.  

The policy drive was led by New York City leaders. Officials from New York government, C40 Cities and the Heartland Capital Strategies plan to brief the Pittsburgh pension board’s solicitor on the new USCOM policy before the board’s next quarterly meeting in September. Mayor Peduto is a member of the Climate Mayors Steering Committee, a group of 24 mayors serving to support climate action across the United States. 

Other cities serving as cosponsors of the USCOM resolution were: New York; Berkeley, CA; San Jose, CA;  Davie, FL; Gainesville, FL; Orlando, FL; St. Petersburg, FL; Honolulu, HI; New Orleans, LA; Beverly, MA; Framingham, MA; New Bedford, MA; Durham, NC; Albuquerque, NM; Portland, OR; and Columbia, SC. 

The text of the USCOM resolution is below: 

Supporting a Global Cities-Led Movement to Divest from Fossil Fuels and Invest in Climate Solutions 

WHEREAS, 

the COVID-19 pandemic has quickly and drastically altered our collective health, wellbeing, safety, and economic security; and 

WHEREAS, 

given the scale of the pandemic’s impact, cities must take new and bold action to accelerate an economic recovery that recognizes our looming climate crisis and the threats to public health and well-being that it will cause; and  

WHEREAS, 

this pandemic has exposed long-standing disparities in our society, much like how the climate crisis will produce greater impacts on frontline communities in disparate ways; and 

WHEREAS, 

we as mayors can choose to emerge stronger and more resilient from this crisis with a green recovery that prioritizes clean energy infrastructure, job creation, and environmental justice; and  

WHEREAS, 

a green recovery can put cities at the forefront of ending the age of fossil fuels and pursuing a just transition to a clean energy economy by divesting their investments from  fossil fuels and investing in climate solutions like clean energy, resilient infrastructure, energy efficiency, and a just transition; and 

WHEREAS, 

as we consider how to rebuild our economy from the pandemic, we must achieve a massive transformation that rebuilds lives, promotes equality and prevents the next economic, health or climate crisis; and  

WHEREAS, 

divesting from fossil fuels is not only the right thing for the planet but can also deliver better financial returns and underscores the opportunities to better manage and reduce environment and climate-related risks for our cities and pension funds and build more resilient, sustainable cities that grow the green economy and jobs, create better public health outcomes, address environmental injustices, and drive equitable development while reducing the harmful effects and risks of climate disaster; and 

WHEREAS, 

mayors across the country have already begun to divest from fossil fuels and invest in climate solutions, demonstrating the impact of strong political will and financial foresight; and 

WHEREAS, 

mayors can demonstrate climate leadership by making a commitment to divest from fossil fuels and invest in climate solution, and by calling on other investors, endowments, and foundations to follow suit; 

THEREFORE, BE IT RESOLVED 

that the United States Conference of Mayors strongly urges cities across the globe to explore divesting from fossil fuels and investing in climate solutions to support a green recovery and a just transition. 

 

Published

07.01.2020

Contacts

Timothy McNulty
Communications Director
Mayor's Office
412-660-1999
timothy.mcnulty@pittsburghpa.gov